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Consolidated Statement of Cash Flows of the Gorenje Group

Consolidated Statement of Cash Flows of the Gorenje Group
in TEURNote20112010
A. CASH FLOWS FROM OPERATING ACTIVITIES      
Profit for the period   9.106 20.024
Adjustments for:      
- depreciation of property, plant and equipment 21 43.767 46.227
- amortisation of intangible assets 20 6.431 6.010
- investment income 18 -15.199 -12.485
- finance expenses 18 40.587 46.451
- gain on sale of property, plant and equipment 13 -3.644 -2.321
- negative goodwill 13 0 -13.337
- revaluation operating income 13 -3.563 0
- income tax expense 19 2.006 2.448
Operating profit before changes in net operating current assets and provisions   79.491 93.017
Change in trade and other receivables   10.297 -80.635
Change in inventories   11.344 -39.612
Change in provisions   -12.021 25.664
Change in trade and other liabilities   -38.265 60.162
Cash generated from operations   -28.645 -34.421
Interest paid   -24.194 -23.607
Taxes paid   -4.595 -7.272
Net cash from operating activities   22.057 27.717
       
B. CASH FLOWS FROM INVESTING ACTIVITIES      
Proceeds from sale of property, plant and equipment   7.302 6.775
Proceeds from sale of financial assets available for sale   0 5.621
Interest received   3.678 3.046
Dividends received   118 305
Liquidation of subsidiary   10.747 0
Disposal of subsidiary   7.143 0
Acquisition of subsidiary   0 1.144
Acquisition of property, plant and equipment   -41.089 -39.358
Acquisition of investment property   -9.819 0
Available-for-sale investments   -33 -1.695
Loans   9.325 -2.564
Acquisition of other investments   -14.246 14.341
Acquisition of intangible assets   -6.379 -5.310
Net cash used in investing activities   -33.253 -17.695
       
C. CASH FLOWS FROM FINANCING ACTIVITIES      
Repurchase of non-controlling interest   0 -6.902
Capital increase   0 24.920
Borrowings / Repayment of borrowings   30.088 27.558
Net cash used in financing activities   30.088 45.576
Net increase in cash and cash equivalents   18.892 55.598
Cash and cash equivalents at beginning of period   82.728 27.130
Cash and cash equivalents at end of period   101.620 82.728
Source: Data from Gorenje Group